Answer / sukavani

i had one more doubt?

wt is the defference bettwen capital & capital a|c

how?

Answer / ps_rks

charged word is not right for capital because any
organisation can not charge interest on capital. They can
charge interest only on drawing.

Answer / sukavani

Interest on Capital A/C Dr. 1500.00
To Capital A/C 1500.00


P&L appropriation a/c DR. 1500.00
To Interest on Capital a/c 1500.00
(Transfer to P&L a/c

no need to pass two entrys,if it required do it this also

Answer / sunaina

entry is:
Interest on capital a/c 1500
To capital a/c 1500

Interest on capital is an expense of the business , thats why it is debited to business. So, it will given on debit side of the Profit & Loss a/c.It is a financial expense of the business.

Answer / manoj kumar

Right Journal Entry are:-
1. Profit and Loss appropriation A/c Dr.
To Interest on Capital A/cs
(Interest paid on Capital only when Firm is partnership As
Per Partnership Act.)

2. Partner's Capital A/c Dr.
To Interest on Capital A/c
( Amount of Interest on Capital transferred to Partner's
Capital A/c.)

3. If Firm is not Partnership than no interest on capital
paid to firm's owner.

whether bills of exchnge can come under the category of reserves and surplus

0 Answers   Iyer Coaching Centre,

How to Entered The Entry if insurance Claim Recovered of four Wheeler and entry entered in personal Account so give me The entry of insurance claim recovered.

1 Answers   Kotak,

All Expences Debit?

2 Answers  

what is red ink interest

1 Answers   ICAI, NTTF Nettur Technical Training Foundation, Wipro,

what is accounting rules

2 Answers   Construction, Genpact,

what is a suspense account ??

4 Answers  

if get the bill of rs.60000+service tax @10.3%.then how do the entry in bookes

8 Answers  

A loan of 10000 with 10% interest is fully due after 6 month. What will accrue differed, outstanding?

0 Answers   FIC,

What are the transactions and journal entry involved when a customer makes purchase or does payment for his own consumption or purpose through debit card?

2 Answers  

what is monthly final accounts and analysis

1 Answers  

What is the difference between Target and Budget?

2 Answers   Al Rashed,

if issue the share capital what is entry pass the journal

5 Answers